UK Accounting Glossary
An uncommitted facility is a borrowing agreement that allows the lender to determine how much it will lend to the borrower at a given time.
An uncommitted facility is an agreement between a bank and a company in which the bank agrees in principle to make funding available to the company but is under no obligation to provide a set amount of funding; If a loan is made it likely will be only for a short period.
Examples include: a money market line or an overdraft.
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This glossary post was last updated: 6th May 2019.